Balance of Payments of the Russian Federation: a new methodology for the compilation and its current state

Abstract

This article considers the contemporary compilation methodology of the balance of payments and especially the 6-th edition of the Balance of payments and international investment position manual of the International Monetary Fund. In 2012 the Central Bank of Russia published for the first time the balance of payments compiled according to the new methodology. The authors of the article analyze the main trends in the current and financial accounts of Russia’s balance of payments in 2012 and discuss the problems of “capital flight” and the increasing external debt of Russian commercial banks and companies.